SBA Disaster Loans Now AVAILABLE in Wisconsin; Webinars Start 3/21!

Wisconsin District Office--March 20, 2020

u s small business administration

SBA Economic Injury Disaster Loans Now Available in Wisconsin!

Thanks to a concerted effort by the State of Wisconsin and the U.S. Small Business Administration, Wisconsin small businesses and private non-profits are now eligible for SBA's Economic Injury Disaster Loans

  • Loans are available for up to $2 million.
  • These loans can provide working capital to meet the needs of payroll, accounts payable, and fixed debt payments until the situation improves.
  • Interest rates are 3.75% for small businesses and 2.75% for non-profits.

How can you apply? 

Wisconsin's SBA office will also offer daily webinars starting Saturday, March 21 to answer your questions--register now.

Register for 10 am webinars:  http://ow.ly/eKOR50yRB1q

Register for 2 pm webinars: http://ow.ly/gQLU50yRAVH 

Scroll down for more local assistance options--SBA's partners around Wisconsin can help with your loan application too.


COVID-19: Guidance for Small Businesses  sba.gov/coronavirus

 

For more on SBA programs for the coronavirus, please visit www.sba.gov/coronavirus.


 

Find SBA assistance with disaster loans near you


Other Federal and state resources

SBA-backed loans

  • Small businesses with SBA-backed micro-loans, 7(a) loans, and 504 loans can request deferrals of three-six months. Contact your lender for details.  

Steps for Government Contractors

If a situation occurs that will prevent small businesses with federal government contracts from successfully performing, they should reach out to their contracting officer and seek extensions before they receive cure notices or threats of termination. SBA’s Lead Business Opportunity Specialist Shane Mahaffy can help affected small businesses engage with their contracting officer.


Cancelled or Postponed Events

The SCORE/SBA Awards Breakfast planned for May 8 and National Small Business Week May 3-9 have been postponed--new dates will be announced when available. The Boots to Business: Reboot scheduled for March 27 in Stevens Point has been cancelled. Due to CDC and Wisconsin Department of Health Services guidance, most events have been cancelled,  postponed, or moved online.  When in doubt, check with the host organization. 


Want More Updates?

If someone forwarded you this newsletter, you can sign up at www.sba.gov/updates--be sure to include your zip code to get news customized for Wisconsin and your area.  You can also follow us on Twitter at @SBA_WIsconsin.